An Example of a Supplier That Used Its Bargaining Power

question 196

Multiple Choice

An example of a supplier that used its bargaining power to charge high prices to its customers is

• A)Walmart, which required many of its suppliers to alter their distribution systems to accommodate Walmart's need to control the flow of goods to its stores.
• B)the firms that supply paper napkins to McDonald's restaurants.
• C)the Technicolor Company, the sole producer of cameras and film that movie studios needed to produce color movies in the 1930s and 1940s.
• D)the publishers of the Encyclopedia Britannica.

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Definitions:

Z-test

A statistical test used to determine if there is a significant difference between sample and population means.

Level of Significance

A threshold of probability set by the researcher to determine the cutoff at which an observed result is considered statistically significant.

Degrees of Freedom

A concept in statistics that represents the number of independent values or quantities that can vary in the calculation of a statistic.

T-statistic

A type of statistic used in hypothesis testing, derived from the t-distribution to compare two means or test a correlation.